How Do I Make An Offer?
When your agent finds the right house for you, it's time to make an offer. Your agent will help you decide all the terms you want to include in your OFFER TO PURCHASE. These terms will include what price you will offer, what inspections will be done and who will pay for them, how much money is set aside for potential problems discovered by the inspection, when will the CLOSING be, when will you take possession of the property and several other terms of the offer. Your agent will suggest ways to make your offer attractive to the buyer while at the same time getting the best deal for you. After you make an offer, the seller has three options. They can ...
- Accept your offer as is.
- Reject your offer completely (this rarely happens).
A counter-offer means they changed one or more of the terms of the contract and are returning the offer to you giving you those same three options.
This goes back and forth until both parties agree on the terms of the contract. Once one party agrees to the other's counter-offer, you have a binding contract and the terms of the contract should be implemented. Your agent will tell you which things need done when and walk you through the process right up to the closing day.